NetSuite Manufacturing Automates Inventory Management

Automating Your Inventory Management Benefits Your Manufacturing Company Multiple Ways

Anyone that's ever been successful at inventory management will tell you it's a balancing act with a simple goal: Have just enough inventory on hand to meet demand. What seemingly sounds simple requires countless moving pieces that are difficult to keep track without the right tools. NetSuite for Manufacturing will help you master the balancing act so that you can easily meet customer expectations and optimize cash flow.

Seamless Replenishment

The unprecedented and unexpected disruptions to the supply chain we saw in 2020 served as the harshest example of the importance of visibility and agility required to maintain service levels. Companies that lacked upstream and downstream visibility into supply chain disruption were caught flat and unable to ship orders at a time when cash flow was most critical. 

As you look into 2021, think about your current abilities to set preferred stocking levels, lead times, and re-order points. If your current system doesn't automatically notify you of risky quantities or make suggestions based on shifts in the supply chain, it may be time to consider NetSuite for Manufacturing which includes these capabilities:

• Automatically calculate key settings
• View and manage inventory across your organization
• Multi-location planning

Cycle Counting for Accuracy

Even the best replenishment and tracking systems require regular checks of actual inventory levels. An accurate item count will reduce required safety stock and lower your overhead costs. NetSuite’s Inventory Count feature automates inventory tracking and gives you more control over your assets. Easily categorize inventory based on volume of transactions and value. You can also enter regular periodic counts of on-hand item quantities to maintain inventory accuracy. With NetSuite, you'll get:

• Increased accuracy of inventory levels
• Automatically prompts for items to be counted
• Categorize your items based on volumes / value etc.

Know Which Warehouse It's In

For manufacturers with multiple warehouses for storing inventory, NetSuite offers unique capabilities when it comes to tracking that inventory across your multiple locations. The physical locations themselves can be hierarchical, allowing the creation of sub-locations. These locations can then be broken down into bins to provide a more finite level of tracking so any item can be stored in any location, giving you a comprehensive view of inventory levels across all physical locations. You'll get:

• Multi-location tracking
• Hierarchical location definitions
• Bin tracking

See Potential Risks Sooner 

NetSuite for Manufacturing users get even greater insight into risks on items not shipping on time with the capabilities of Intelligent Predicted Risks. This feature has now been extended to include sales orders. Purchase orders can be marked at risk and you'll see alternate vendors based on new machine learning algorithms. 

Get even more precise supply allocation by allowing inbound shipments to be with the associated purchase orders. Also, fill rate optimization intelligently allocates on-hand supply to fulfill as many sales order lines as possible.

NetSuite's manufacturing and production ERP software give you the power to easily control inventory, provide end-to-end supply chain management, and optimize your business processes on a single, easy-to-use cloud platform. Don’t miss out on all the new NetSuite enhancements. As a 5-star NetSuite partner, we are here to help you transform your manufacturing business with NetSuite. To see a demo of NetSuite or to speak with our team, email us at sales@newgennow.com!